You might want to think twice before you let your smartphone charge overnight. That’s because electricity prices have hit an all time high, reaching $0.2974/kWh from October to December 2022.
Of the 9 electricity retailers available in Singapore, Sunseap is the only one offering solar energy as a key selling point.
1. What is Sunseap?
Sunseap is an energy retailer licensed by the Energy Market Authority (EMA). They are authorised to sell electricity via the Open Electricity Market (OEM) in Singapore. What sets them apart is that they market themselves as a provider of clean energy.
Sunseap Group is helmed by co-founders and Executive Directors Frank Phuan and Lawrence Wu, with Phuan also serving as CEO.
For those who are interesting in investing in the company, Sunseap Group was supposed to go public on SGX, but as of February 2022 their plans have been abandoned after selling 91% of their stake to EDP Renewables.
2. Sunseap Electricity Review
|Sunseap Electricity Plans||Price (including GST)||Contract Duration|
|Sunseap 1% Solar||$0.4173/ kWh||6 months|
|Sunseap-100||$0.4494/ kWh||6 months|
Sunseap offers two types of plans — Sunseap 1% Solar and Sunseap 100. So, what’s the difference?
In a nutshell, Sunseap 1% Solar is their cheaper but less eco-friendly plan. Only 1% of the energy you buy will be solar energy.
Sunseap 100, on the other hand, is more expensive but also more eco-friendly—100% of your electricity will come from solar energy.
Now, if you compare Sunseap’s plans to other mainstream electricity plans, they’re pretty damn expensive, and that includes Sunseap 1% Solar which only gives you a measly 1% of solar energy. In comparison, the cheapest electricity rates in town are currently $0.3112/kWh by Geneco.
So, it’s really not worth it to go for Sunseap 1% Solar as you’re only receiving 1% solar energy in exchange for a much higher price.
As for Sunseap 100, if you care enough about the planet to pay a higher tariff, more power to you, but just be aware of how much more you’re paying.
3. Sunseap Fees and Charges
Here are the other fees and charges you’ll have to pay when you have a plan with Sunseap.
|Sunseap Fees and Charges||Fees|
|Late Payment Charge||1.5% of outstanding amount per month|
|Early Termination Charge||HDB 1 or 2 room: $15 per remaining month
HDB 3-room: $20 per remaining month
HDB 4-room: $25 per remaining month
HDB 5-room/EC: $30 per remaining month
Condo: $40 per remaining month
Terrace: $50 per remaining month
Semi-detached: $70 per remaining month
Bungalow: $80 per remaining month
|GIRO / Credit Card Auto Payment Failure Fee||–|
See how Sunseap’s fees compare to the other electricity retailers’ here.
4. Sunseap Solar Electricity Plans
So why exactly is solar electricity more eco-friendly? Well, it comes from the sun via sunlight, which makes us sweat like hell but is free and by itself does not pollute. The main environmental cost is the manufacturing, installation and maintenance of the solar panels that are needed to capture this energy and convert it to electricity.
Energy retailers usually use electricity from SP’s main electricity grid, with the majority of the electricity generated coming from natural gas. Natural gas is not as polluting as coal, but it’s still considered a fossil fuel, it still has to be burned, releasing carbon dioxide and other pollutants in the process.
Sunseap’s solar energy plan is also hooked up to SP’s electricity grid, so you don’t have to worry about the power in your home getting cut.
5. Sunseap Solar Panels
Your home heats up like an oven in the afternoon, so why not take advantage of that and get your own solar panels to generate your own electricity?
Yes, it’s possible, but it depends on where you live and whether you have a roof that you can attach the panels to.
First of all, you cannot install solar panels on HDB flats. But if you live in private property or have a business with your own premises, you can technically buy and use your own solar panels.
However, in practice, this tends to be an option that’s only available to landed property owners as you don’t need to share the roof with anyone else or get approval from a condo MCST.
You can get solar panels directly from Sunseap through their Solar PPA service. They will design and sell you the solar panels and take care of the installation process. They claim there is no upfront cost, and that you pay only for what you use.
However, note that any power generated must be sold back to the Singapore Power grid. So, you’ll still have to sign up for an energy plan, although your electricity costs will be lower because of the solar energy you’ve generated. If you install your own solar panels through Sunseap, you’ll be able to opt for a fixed rate or discount off tariff contract.
6. Sunseap Electric Vehicle Charging
Sunseap also offers Electric Vehicle (EV) charging installation for homes through Charge+, their green mobility arm and popular EV charging mobile app in Singapore, which provides the actual EV charging unit.
Although Charge+ works in partnership with Sunseap, that doesn’t mean you’ll automatically be supplied with green energy just because you’re using a Charge+ EV charger. That will depend on the electricity supply at your place of residence.
7. Sunseap Discount Off Tariff Plans
Alas, Sunseap is currently not offering any discounts on their tariff plans.
Once upon a time, discount off tariff plans were offered by many energy retailers, especially when the open electricity market was first rolled out and they were trying to get people to make the switch from SP. But these days, electricity is so darn expensive and fluctuates so often that almost all the retailers have dropped their discount off tariff plans.
The are no discount off tariff plans available right now on the Open Electricity Market.
8. Sunseap Promotion
Sunseap used to have all the usual tie-ups with banks such as OCBC, offering customers up to $80 in bill rebates when signing up for a new plan or renewing their plans.
- Cashback on Everyday Dining
- Cashback Cap per month
- Min. Spend per month
[MONEYSMART x OCBC GIVEAWAY | Upsized Cash]
Get a Samsung 27-inch M5 Smart Monitor (worth S$554) OR a ErgoTune Classic Ergonomic Chair (worth S$399) OR S$280 UPSIZED Cash via PayNow when you apply and spend a min. of S$500 in Qualifying Spend within 30 days of card approval.
PLUS, get a Apple MacBook Air 15-inch M2 Chip, a Apple iPad 10.2inch (9th Gen) OR an EverDesk+ Lite Standing Table when you participate in our MoneySmart OCBC Giveaway! T&Cs apply
At present, all of Sunseap’s credit card promotions have been phased out.
Bu if you’re determined to find promos, Pacific Light has some of the most generous electricity retailer promotions at the moment, offering up to $80 in discounts.
- on Online and Mobile Contactless spend
- Up to 8%
- Cash Back Cap per month
- Up to S$60
- Min. Spend per month
Stand to receive a ASUS Vivobook x BAPE ® (worth S$2,349) OR a Sony PlayStation®5 Disc Console (worth S$799) OR a Nintendo Switch OLED (worth S$549) when you successfully apply for an eligible UOB Credit Card through MoneySmart and meet the Giveaway eligibility criteria! T&Cs apply.
PLUS get up to S$500 worth of Grab Vouchers from UOB when you successfully apply and spend a min. of S$1,000 per month for 2 consecutive months from card approval date and SMS registration required. T&Cs apply.
9. Sunseap Referral Code
Sunseap’s referral programme was introduced back in November 2018 due to popular demand.
Here’s how it works. When you sign up with Sunseap, they give you a referral code.
You then get your friends to sign up with your code.
When that happens, both you and your friend get $20 in bill rebates. Apart from the fact that you’ll both be paying a high price for your electricity, it’s a win-win situation.